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Santa Teresa

Learn about the people, housing, costs and businesses in Santa Teresa, New Mexico

Median Home$237,500
Median Rent$1,363/month
Population6,197
Leading IndustriesFinance & Insurance · Information & Media · Transportation9% finance & insurance
Home Value Growth⬆⬆⬆+27.7% over 2 years
Retirees23% of residentsslightly above average
Homeowners85% of occupied units
NotableHighly Educated24% hold a bachelor's degree · top 21% nationally
Santa Teresa
NM

Frequently Asked Questions

What are today's mortgage rates in Santa Teresa?

As of today, the 30-year fixed mortgage rate for Santa Teresa is approximately 6.838% (6.872% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Santa Teresa?

The median home value in Santa Teresa is $238k. The median monthly rent is $1,363. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Santa Teresa?

Home values in Santa Teresa have increased 27.7% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Santa Teresa?

Based on a typical all-in ownership cost of $1,408/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $60k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Santa Teresa is $74k/year.

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What industries drive the economy in Santa Teresa?

The largest employment sectors in Santa Teresa are public administration (25%) and healthcare (11%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.